Knowledge Peers

Email:

Password:

Remember me

By checking this box you agree to Knowledge Peers storing a permanent cookie in your browser.
Full details

Until you specifically click “logout”, you won’t have to log in again, even if you close your browser. If you’d prefer Knowledge Peers to not store a permanent cookie, meaning that you will need to log in to this site after each time your browser closes, then don’t check the box. If you check the box, and you later change your mind, click on the “logout” link and the permanent cookie will be deleted.

Cyber security and the risks to SMEs
Peter Allwood
,
Manager - Enterprise Risk Services, Deloitte LLP
-
Untreated security breaches can be fatal, particularly for SMEs. Peter Allwood gives an insight into the risks of hacking and how they can be dealt with without damaging business.

Lisa Irlam is the CEO of Swimovate who have developeda new product, the Pool-mate- a watch that tells you how many laps you have swam in the pool. In the following clips, Lisa explains that the decision to patent to the idea rather than keep it a trade secret was taken as it would add value to Swimovate being a technology company. Having the Pool-mate patented also meant Lisa has been able to speak to sports brands about using Swimovate technology in their watches, knowing it is a unique product. Lisa adds that you can spend a lot of money protecting your intellectual property, but stresses the need to make sure you do not rely on IP protection alone and must stay one-step ahead of the competition at all times. Swimovate are already doing this by thinking about the second and third product that they will be bringing into the market place.

Key points

In order to save money early on, Lisa researched and drew up the first-draft patent herself before engaging patent lawyers.

Having the idea patented helped when speaking to bigger sports brands about using the technology in their watches.

Lisa suggests there is no point in having a heavily-patented idea unless the product is commercially viable, so you are able to recoup your spending.

Protecting your intellectual property is not enough to see off your competitors, you must always be thinking of new ideas and products.

It is possible to spend a lot of money on intellectual property, but it is more important to make sure you are able to sell the product